This paper examines in an integrated manner the multiple dimensions of what has come to be called the “policy space” or “policy autonomy” of developing countries, i.e. their ability to calibrate national policies to local conditions and needs (especially with respect to their development...

Recent economic disturbances in Latin America-particularly the currency crises in Mexico in 1994-95 and Brazil in 1998-99-have prompted significant research and debate over financial sector reforms and appropriate monetary and fiscal policy for the region. The recent discussion over...

In this chapter, we analyze the expectations and the realities about the economic impact of NAFTA on Mexico in terms of economic convergence, trade, investment, employment, wages, and income distribution. We show that NAFTA has basically failed to fulfill the promise of closing the Mexico-U.S....